NEW YORK, January 14, 2026, 05:22 EST — Premarket
- Shares of TryHard Holdings slipped 5.5%, hitting $52.00 in early premarket action
- The stock surged beyond double in the previous session following the company’s announcement of a $10 million buyback and a fresh partnership with an investment fund
- The spotlight now shifts to whether the buyback goes through and if the fund secures Hong Kong licensing and approvals
TryHard Holdings Limited shares dropped 5.5% to $52.00 in early premarket Wednesday, retreating from a strong rally sparked by company news the previous day. (Investing)
The sharp turnaround is significant since TryHard remains a fresh name on the U.S. listings and has reacted sharply to sparse news. Traders are scrambling to figure out if Tuesday’s surge signals a lasting re-rating or just a short-lived squeeze that will fade once markets open.
Two corporate moves are shaping the tape: a board-approved share buyback program and a proposed entertainment investment fund based in Hong Kong. Both aim at growth and capital allocation, though neither delivers cash to investors right now.
TryHard surged to close at $55.05 on Tuesday, marking a 138.3% jump from the previous close. Intraday, it dipped as low as $27.15. Roughly 482,000 shares traded hands, based on data from StockAnalysis. (StockAnalysis)
The company said its board approved a share buyback program of up to $10.0 million through Dec. 31, 2028. Purchases could come via open market transactions, block trades, or private deals. CEO Otsuki called the move a signal of “confidence” and highlighted the company’s “strong balance sheet.” The announcement noted repurchases will likely be funded with existing cash. It also mentioned potential reliance on Rule 10b5-1 plans and Rule 10b-18 safe-harbor provisions—U.S. rules designed to minimize insider trading and market manipulation risks during scheduled buys. (GlobeNewswire)
TryHard announced a binding collaboration agreement with Carnegie Hill Capital Partners to develop a Hong Kong-based investment fund targeting global entertainment assets. The fund aims to raise between $10 million and $20 million. Its launch hinges on securing a Hong Kong Securities and Futures Commission license along with other regulatory clearances. The partners expect to have the fund up and running by June 2026. A Carnegie Hill spokesperson said they were “pleased to formalize our collaboration.” (GlobeNewswire)
Early Wednesday, Otsuki shared an update highlighting the company’s goal to “create a new model for the nighttime economy” and to “deliver entertainment born in Japan to the world.” The message also reflected on a year marked by new venue openings and the push for a Nasdaq listing. (MarketScreener)
TryHard made its Nasdaq debut in August 2025, pricing shares at $4.00 each, according to a filing. That recent volatility stands out, given how short its trading history is.
But there are catches. A buyback authorization doesn’t guarantee shares will be repurchased at a set pace, and the proposed fund still depends on licensing, paperwork, and capital commitments — all of which can delay or reduce the plan.
Investors are eyeing if Wednesday’s early dip sticks when regular trading kicks off at 9:30 a.m. EST, and if TryHard reveals any details on actual buybacks or firm milestones ahead of the fund’s anticipated June 2026 debut.
